Compare all financing options for a $57,000 solar carport ($39,908 after 30% federal tax credit), 5-year term.
| Option | APR | Monthly | Total Cost | Interest Paid | Highlight |
|---|---|---|---|---|---|
| Solar Loan 3% APR | 3.0% | $717/mo | $43,026 | $3,118 | Best overall |
| Solar Loan 6% APR | 6.0% | $772/mo | $46,300 | $6,392 | Common rate |
| HELOC 8% APR | 8.0% | $810/mo | $48,591 | $8,683 | Tax deductible |
| Cash Purchase | 0.0% | — | $39,908 | $0 | Lowest total cost |
$717/mo
$43,026 total · $3,118 interest
$772/mo
$46,300 total · $6,392 interest
$810/mo
$48,591 total · $8,683 interest